Question

Jasper Company has sales on account and for cash. Specifically, 70% of its sales are on account and 30% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $ 525,000 for April, $ 535,000 for May, and $ 560,000 for June. The beginning balance of Accounts Receivable is $ 400,000 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June.